forbu "nightlness report," i'm dominic chu. >>> and finally tonight, "fortune" is outith its list of most powerful women in business and there's a new womas in the topt for the first time since 2015. leading the pack isil m hussin, the ceo of lockheed martin. at number two, gm o mary barra and rounding out the top three, abigail johnson, the chairman and ceo of fidelity instments. congratulations to them. >> indeed. that does it for us tonight, i'm sue herera. thanks for watching. b >>> i'ml griffeth. have a great evening. we'll see you tomorrow. >> this is "bbc world news america." >> funding of this presentation is made ssible by the freeman foundation, kovler foundation, pursuing solutions for america's neglected needs, and purepoint financial. >> how do we shape our tomorrow? it starts with a vision. e see its ideal form in our mind, and then wgin to chisel. we strip away everything that

. ♪ >>> good morning i'm dominic chu.utures are pointing to a higher open despite a new round of tariffs on china starting monday the u.s. will slap a 10% tariff on 2$200 billion worth of goods coming in from china that number jumps to 25% starting next year several products were spared from that tariff list including the apple watch, child safety items and manufacturing chemicals. the white house also says it is ready to impose tariffs on an additional 2$267 billion worth o goods if necessary we will get some fresh reaction from china to those new import taxes. let's get to eunice yoon live in beijing with the latest. >> thank you very much china says it has no choice but to retaliate the commerce ministry issued a statement moments ago and said the tariffs are creating new uncertainty for negotiating. expectations were rising that the trade talks between steven mnuchin and the vice premiere, which were set for next week in washington, are going to be called off earlier today another prominent official at the securities

. ♪ >>> good morning welcome to "worldwide exchange" i'm dominic chu.rian sullivan is on assignment today. as we look at the markets, we have a green theme developing with the u.s. futures. at least for the dow up 22 points the nasdaq up 1. the s&p just about flat. looking at the other parts of the complex, the treasury side of things, ten-year treasury note yields about 3.06%. the two-year, 2.81%. asia mostly higher today the bank of japan standing pat in the latest rate decision. the nikkei up a half percent the hang seng up a half percent. in european trading, we're seeing the same theme develop here, fractionally higher. the dax up by 0.2% the cac in france up 0.3%. the ftse 100 down by a quarter of a percent as for the broader markets, currencies on that side of things, the euro/dollar, 1.1701. on the energy side of things, crude oil prices, west texas intermediate below that $70 a barrel mark, though getting closer 69.89 the trade there. brent at $78.97. china firing back at the u.s. this morning saying they will outlast america in a trade war and

i'm dominic chu. stocks steady this hour. the dow under a little bit of pressure trade tensions still a big concern. china's u.s. trade surplus hitting a fresh record and president trump warning of more tariffs ahead. so we're going to call it the hurricane prep trade we have home depot and lowe's hitting all-time highs jennerac insurance stocks taking a hit. tesla, on comments from analysts and foot locker and rh jumping on analyst upgrades. >> i'm courtney reagan to the trading action this hour. bob pisani is at the new york stock exchange hi, bob. >> hello we're up on the s&p but i don't like what i'm seeing here. i see big cap tech names starting to roll over, i see health care starting to roll over a little bit and the banks looking wobbly you can see this in the dow. the dow is negative and you can see why here first off you have a big call out of citigroup downgrading united health from neutral to buy. a big market leader recently dragging things down boeing is down apple is down as well. put these three together here

. ♪ >>> let's get to dominic chu for the european close. >> jon, the european markets are pulling backering concern about tariffs on china, that trade discussion. basic resources among the worst performing groups, down 2%, weighed down by trade fears as well on the macro front, you have brexit negotiations, following comments from the german government it is ready for all scenarios, including possible no deal british pound jumped in the previous session, following a report that the uk and germany dropped. among other names in focus, drug and chemicals giant bayer, shares falling more than 3% after missing on earnings, cutting the full year profit outlook. they have seen lawsuits from plaintiffs across the u.s. as of late august, up 700 since last month alone you can see lots of red in europe back to you. >> dom chu at hq. >>> president trump's trade war continues as some cities are feeling the pain steel tariffs are causing pain at the port of new orleans jackie deangeles is in new orleans for a closer look, hey, jackie. >> reporter: hey, morgan, the conversation is alive and well at t

dominic chu has the european close. >> behind me, a lot of greenon the screen european markets are higherfth straight day of gains. longest win streak since a six day run for the stocks in late july bank and mining dominating the headlines there, doing all of the heavy lifting. brexit and pound are front and center for investors as european leaders continue meetings in austria. donald tusk saying key parts of theresa may's brexit plan will not work, saying it risks the underlying market. the uk prime minister hitting back, saying her plan is the only serious, credible proposal on the table she also reiterated the british government is prepared for a no deal scenario and will not accept a second referendum on the issue. uk is set to leave the block next march >>> and shares of nestle are higher after they put skin care health unit up for sale. the deal could fetch $3 billion. that unit is important, it includes tsome brands. run by dan lowe. back to you. >> thank you very much >>> we got an open of elanco 35% gain talked to jeff williams a few moments ago about spin off from lily, focused

for that, we go to dominic chu. >> we are marginally lower for tesla shares we were down 4.5% on theg headlines that said tesla is reportedly according to bloomberg news facing a u.s. criminal probe over elon musk statements over twitter about possibly taking the company private, the notorious funding secured tweet. we reached out to tesla for comment, haven't heard back. we'll get back when we do. we reached out to the justice department as well, jon, for comments we'll get you all of those as we see them on the news desk. back to you. >> story continues to unfold thank you. >>> "squawk alley" will be right back after this. [ upbeat music ] i'm ready to crush ap english. i'm ready to do what no one on my block has done before. forget that. what no one in the world has done before. all i need access, tools, connections. high-speed connections. is the world ready for me? through internet essentials, comcast has connected more than six-million low-income people to low-cost, high-speed internet at home. i'm trying to do some homework here. so they're ready for anything. >>> tesla back t

. >> as dominic chu would say, they're going to smoke pot the mary jane? >> the reefer?k you very much a few big upgrades crossing they slapping a $38 price target on it ubs says it believes the stock is trading at all-time low valuations at&t's stock down 14% this year. >>> jpmorgan chase removing its underweight sell on under armour the firm is putting a $20 target on the stock exactly where the stock is trading, at least they're not saying sell. >>> betting big and banking on america. that's literally what bnp paribas is doing coming up, we're sitting down with the bank's u.s. ceo, jean-yves fillion. >>> first, facing florence the hurricane may be over but farmers are just dealing with the aftermath. seema mody is live for you in north carolina with more >> due to florence, farmers are facing a shortage of crop. we'll tell you about the impact of this storm on the agricultural community and how that may impact your thanksgiving meal. that's next. who can help me build a complete plan. brian, my certified financial planner™ professional, is committed to working in my b

. >>> let's get to dominic chu meantime for the european close. >> so, carl, as we look at what's happeningthe european markets right now, a bit of wait-and-see mode ahead of that federal reserve rate decision later on today. we've got basic resources among the worst performers in european trading bucking that recent upward trend among the individual names in focus, airbus jumping by more than 3% here this morning after european regulators granted a key certification to one of its models, the a-330 900 model. now, sticking with the transport sector, daimler's ceo is planning to step down in 2019 after more than 12 years on the job. current research and development chief will take over the reins at the german automaker. shares dipped in early trading but finished mostly flat on the day. finally take a look at shares of aa down more than 12% after reporting a sharp drop in profits during the first half of the year the british-based company blaming bad weather for a pothole epidemic across the country. this comes after it cut its guidance in february citing a need to transform its business ove

booking.com, booking.yeah >>> the market closed a couple of minutes ago across continent so let's get to dominic chu the european markets edging higher again today, delivering four straight days of gains. a volatile session for the british pound, jumping against the dollar after inflation data came in a little hotter than expected prices jumping for the second time in as many months but the currency gave up some of those gains after reports that uk prime minister theresa may had rejected an improved offer from eu chief negotiator michelle barnier that pound trading roughly flat against the dollar ahead of that key meeting with the european leaders now in austria later on today with regard to brexit. >>> among the corporate names in focus, the ceo of denmark's largest bank is out after a year-long investigation revealed $230 billion in illicit transactions flowed through its eston estonian branch. >>> moving on to some of the other stocks out there, german chemical company linde group secured its merger with praxair. they are close to selling more than $200 million in assets to relieve regulatory con

dominic chu is back with what we can expect listen, we know the economy is good the question is how good the markets have been weak over the past four, five days, but looking at how we're shaping, 3%, 4% away from record highs at this point. as we watch the trading action develop this morning, it's going to be about whether or not this number will do anything to break us out of this range that we're seeing the dow jones indicated down 24 points the s&p down about 3 that's something where we are saying maybe traders are jockeying for position or holding steady ahead of that big jobs report. looking at the treasury market side of things, that's another thing we want to watch we've seen that flattening yield curve. the idea that ten-year note yields and two-year note yields are converging that has expanded a bit over the course of the last couple of days that may be another good indicator. the other thing is we talked about this idea that technology has been a real source of weakness in the past four, five trading days only because it's been a source of strength. consumer discretionary and

i'm dominic chu. shares of columbia property after a report that the company is exploring a sale.hat's according to dow jones citing source. columbia is a recent trust that turned down joint ventures in the past year until a bid to shore up its balance sheet that's what's driving the shares, guys back to you. >> appreciate that bank of america out on an embarrassed note, chevron and conocophillips downgrading them to neutral pete, you own chevron. >> i do. >> you disagree that they say the tail wind from this recovery in oil prices is all but over. >> yeah, why i disagree. a lot of these oil stocks mo s y chevron as well. oil somewhere near that $70. when you look at chevron when you look at what they're doing with the repurchase program which is not just funny numbers. this is something they've been doing for years and years they continue to shrink their share count. on top of that, the cash generation that they've got when you look at valuation, versus their peers. this is a name that i know has exposure across the rest of the world. frurch% of revenue does come from the u.s the

let's bring in dominic chu >> so, scott, that's right bitcoin and bitcoin futures sliding after goldman sachs reportedly pulled its plan to launch a cryptocurrency trading desk the bank did not confirm this business insider report to cnbc, but did say it was looking into the space for its clients. so jeff killborg, what are you doing with this decline? how are you trading it >> well, dom, very cautiously trading this decline this say reaction to headline risk we talk about all the uncertainty. the fact these are unconfirmed, but the fact that goldman is considering scrapping that cryptocurrency, that hit cryptocurrencies across the board. that's the headline risk that really underscores and illuminates the fact we don't have enough certainty. it is putting a lot of emotion into the tape. the momentum is to the upside. >> is this just another roadblock for the bitcoin bullish trade? >> certainly, road of many roadblocks, i'm not surprised what goldman sachs did or maybe announced or maybe is not going to do, only because there is not enough volume in the bitcoin futures for them to put o

. >>> time for our etf spotlight dominic chu is back at hc looking at what's riding tilray's new highwords that describe the kind of trading action we have seen in these cannabis-related stocks but no doubt marijuana-related issues are on a lot of radars today at least on cnbc.com, some top red stories are related to tilray after jim cramer's interview with tilray's ceo on "mad money" last night the massive upside move in tilray and other marijuana-related stocks are leading some to question whether a correction or worse is coming down the line. outside of those individual stocks or depository receipts of foreign companies traded in the u.s. there are not a lot of ways to take a view, positive or negative one method being used is called the etf mg alternative harvest fund the ticker there, no surprise, mj it has around $600 million in asset according to the fund manager. tilray, canopy growth and kronos group are the three most heavily weighted stocks, each has a 10% weighting so far 39 stocks in the total portfolio. a key thing to keep in mind with volatile things like the cannabis o

a new sector and a lot of big names moving into it dominic chu joins us to explain what this means forarkets and maybe your holdings. dom. >> absolutely, tyler as we look at the s&p 500 communications services sector, that replacing the telecom services sector, which before only had three real stocks at&t, verizon and century link as you can see here now, that communication services sector is one of the better performers so far today. it's just moved into positive territory. the reason why we care so much is because many of the large-cap, mega-cap, internet, media and tech companies are moving into this sector. if you look at some of the names in the etf space, that tracked the whole thing. we do have a series of spidr services also the xlk, same for technology and the xly for discretionary. these have been reweighted, because folks like alphabet, the parent company of google and also netflix and also with other names like facebook and twitter are all moving from various sectors in technology and, of course, in discretionary into this particular communications services sector. and i wo

i'm dominic chu.vering just near their lows of the session off by 0.2 of a percent. technology the worst performing sector chip stocks are leading the way to the downside. check out what's happening with smh. micron among the worst performers in the s&p after goldman sachs warned about deteriorating chip demand. back down to you guys. >> all right, dom, thank you. >>> evacuations continuing this morning as hurricane florence charges near the carolina coast. it could be the strongest to hit the region in decades. contessa brewer is with us this morning from charleston, south carolina contessa. >> sara, the preparations are intense right now at the port of charleston you can see these bmws are going aboard this car carrier. they're moving them out to sea away from the risk of any storm surge and flooding the port is typically very busy. in fact it set a record last month for the number of containers moved, up 16% over previous years this accounts for $53 billion worth of economic activity in charleston

i'm dominic chu. the nasdaq is "the biggest loser" so far today.an see the nasdaq off by 1 full percent so far. amazon, apple, alphabet, facebook, they're all falling today. amazon "the biggest loser" on reports the company is investigating some internal leaks the stock is nearing a three-week low twitter falling hard after nation analysts lowered the price target on the name macy's, nordstrom and kohl's on the s&p 500. caterpillar moving dow, dupont and 3m moving the dow industrial higher. >> i'm tyler mathisen and bob pisani at the new york stock exchange a lot of pressure on the tech exchange. >> we have problems with tariffs. we have problems with the banks overall. not a lot of energy. take a look at the tech names, apple, netflix, all the fang names. apple is down about 2% you think it's bad here. shanghai hit a 52-week low today. we're seeing new lows across the board in the big tech stocks over in china, including ones that trade here like alibaba that's a new 52-week low jd.com is a 52-week low. it's pretty tough here social media stocks,

east coast, residents are heading to hardware stores and big box retailers to stock up on supplies dominic chues that could see a big effect >> markets have moved into positive territory, being helped along by that energy sector, as oil and gas sectors move higher in expectation of what could be hurricane florence as that monster storms move towards the southeastern u.s. coast, we have a number of markets that have been continuing to move as certain sectors, industry groups, and companies showing more volatility storms often mean more preparation and possible rebuilding to that point, companies like home depot and lowe's rising in anticipation of that more retail demand for the rebuild along those same lines, companies like beacon roofing may be positioned to help with rebuilding efforts as well, trading, not moving to the upside after yesterday's gains here electrical power also a concern. generator companies also extending shorter term uptrends, as you can see here. that stock at a 4 1/2-year high. and we'll end with the insurers, which could take a big hit depending on the amount of severit

dominic chu taking a closer look at the valuations. >> they are sky high, to say the very least, tyler. as we take a look at some of the trading action that we've seen, for tilray you mentioned the post ipo moves it was a $17 ipo obviously the price at $171. again, a ten times ipo price move is maybe something people are a little skeptical of. as you look at the two-day and the course of the one, like the week span, it is still very high up there multi billion dollar valuations. as you take a look at some of the other pot stocks, ironically enough many of the pot stocks are actually up today even though tilray is down. this is the etfmg alternative harvest fund about a 600 to $700 million etf which tracks pot-related stocks in canada and elsewhere. those stocks are up by about 2%. as you look at some of the stocks that make up the biggest part of these big etfs, those names are still higher as well names like cronos, canopy growth, all of them moving to the upside so perhaps just a little indication that much of the trading we saw in tilray was technical in nature. take a look at some

dominic chu has a look at volatile action. >> do you always read what's in the prompter >> probably not part of this mikesanto santoli #lethimread. >> should be make him read >> i would be hard pressed to remember a time when i saw one stock go the way this did yesterday. >> in the late '90s maybe. >> i started back in '99, so in the dotcom days i remember seeing this kind of stuff. like internet capital group. >> the stupid things on airplanes, before the internet >> sky mall? >> yeah. >> crazy stuff >> pets.com. so what this comes down to is a move that almost doubled the value of a stock, a multibillion dollar company to begin with looking at the stock from a two-day perspective, at one point 90% gains intraday, only to see it halted throughout the down side. five times it was halted by the nasdaq for trading volatility. at one point it was bigger than almost 60% of the entire s&p 500. it is currently now, if it was in the s&p 500, greater than 45% of the stocks in the s&p 500 this is a company that made around $9 million of revenue last quarter when we talk about perspectives of val

>> we don't know yet when we ask betweencompanies, t don't know dominic chu did a report on the portf l.a., it's stacking up what is in those boxes >> for the holidays. >> some of it and maybe some other activity which was pulled on to the shores sooner. we're asking companies how much is in those boxes? >> charles >> i think the market expected a discount and that the u.s. would implement this new level of tariffs and that china would retaliate. >> this is already baked in. >> right we would see higher s&p and earnings are great you will have an eps number for 2018of probably 170 or north so there's a bit of a relief that's why asia is up again today and the yuan is well contained. it's not deprecating dramatically >> what's the mentality for trading? is this a market you don't want to short >> it's a market which is getting increasingly complex and difficult to navigate because of the china trade issue. it's unclear how it will get resolved investors are betting there's gamesmanship going on between key policymakers or that either the midterms of the united states or the g20 will s